Venus Remedies Chairman and Managing Director Pawan Chaudhary said here today that the company having three manufacturing units at Panchkula in Haryana, Baddi in Himachal Prdesh and Werne (Germany) is eyeing a sizeable share in Australias US $-15 million meropenem market in the first year of launch. With marketing approvals from more than 35 countries, the pharma major is poised to capture a significant share in the $1.3-billion global meropenem market.
Pawan Chaudhary said, The marketing authorisation from TGA has once again proved the company's capabilities in developing world-class products that meet the most stringent regulatory requirements. This is yet another milestone for Venus Remedies in its journey of obtaining a significant share in the meropenem market globally. Having established strategic tie-ups to market the drug in countries where Venus Remedies has a presence, we enjoy an edge over other competitors.
Meropenem is an off-patented antibacterial agent of the carbapenem class of antibiotics that caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children. While Venus is already selling meropenem in highly lucrative markets like Europe, New Zealand and Saudi Arabia, it is also in the process of extending its footprint and sales operations to other regulated markets like Canada and Switzerland.
Chaudhary said that Venus was the first company in India to have a dedicated EU-GMP-certified facility for manufacturing penems. Venus has won over 102 patents for its innovative research products worldwide. The company has presence in 60 countries and covers more than 75 products. He said that the Venus Medicine Research Centre (VMRC) located at Baddi, Himachal Pradesh, is a fully equipped interdisciplinary drug discovery and development centre, duly approved by the Department of Scientific and Industrial Research, Government of India.